Unit 1 (Franko, 2007) Puzzle of LA Economic Development Flashcards
What is the main argument regarding economic development in Latin America?
Understanding economic development in Latin America is complex, requiring consideration of various definitions, historical contexts, and contemporary issues.
This complexity arises from diverse economic structures and the interplay of economic, social, and political factors.
Why is defining ‘development’ challenging according to the text?
There isn’t a single, universally accepted definition of development; economists offer different perspectives, from rapid capital accumulation to broader improvements like quality of life.
Examples include Webster’s broad definition and Lewis’ focus on per capita output.
What characterizes the economic landscape of Latin America?
The economic landscape is diverse and complex, featuring a range of structures from highly modern sectors to traditional systems, making broad generalizations difficult.
This heterogeneity impacts the application of singular development theories.
What global and historical influences are relevant to Latin America’s development?
Understanding Latin America’s development requires considering historical patterns and interactions with global markets and economic dynamics.
This context is crucial for understanding the region’s development trajectory.
How are social and political factors related to economic development?
Development is intertwined with social and political dimensions, acknowledging the interconnectedness of economic progress with social well-being and political factors.
Quality of life indicators reflect these interconnections.
What challenges do policymakers face in promoting development in Latin America?
Policymakers encounter difficulties due to the complexity of economic structures and the multifaceted nature of development, requiring them to balance competing goals and societal needs.
This complexity complicates efforts for economic and social progress.
What does the term ‘underdevelopment’ indicate?
Underdevelopment refers to low income levels, poor social indicators, limited resource access, and dependence on external forces, representing structural issues beyond mere absence of development.
It highlights the distinct challenges faced by underdeveloped regions.
What is ‘empowerment’ in the context of development?
Empowerment is the process by which individuals or groups gain greater control over their lives and resources, including a voice in decision-making.
It is crucial for fostering individual agency and societal progress.
Define ‘Modernisation Theory’.
Modernisation Theory views development as a linear progression from traditional to modern societies, emphasizing the adoption of Western values and technologies.
This perspective often critiques non-Western development paths.
What does ‘Dependency Theory’ argue?
Dependency Theory posits that underdevelopment in regions like Latin America results from historical and ongoing dependence on developed countries through unequal economic relations.
This theory highlights the structural constraints faced by developing nations.
What role does the ‘Institutional Framework’ play in development?
The Institutional Framework consists of rules and norms that govern economic and social interactions; a strong framework is crucial for fostering development.
It encompasses laws, organizations, and governance systems.
What is the significance of ‘Sustainable Development’?
Sustainable Development meets present needs without compromising future generations’ ability to meet their own, incorporating environmental considerations into development strategies.
It emphasizes long-term ecological balance.
Fill in the blank: Development is a _______ process of economic, social, and political transformation.
multifaceted
True or False: Economic growth is synonymous with development.
False
What are some key macroeconomic factors that shape development in Latin America?
- International capital flows
- Interaction between industry and agriculture
- Global economic model impacts
- Inflation and external debt management
- Role of the state in policy interventions
What are some fundamental challenges in promoting human and social development in Latin America?
- Poverty
- Inequality
- Access to basic services (education, healthcare)
- Environmental sustainability
What internal constraints do Latin American economies face in policy making?
- Social and political instability
- Powerful domestic interest groups
- Balancing competing economic and social objectives
How does the text suggest that historical factors have shaped development?
Historical factors like colonial legacies and resource extraction patterns have established structures of dependency and inequality affecting current economic opportunities.
Identify one social indicator important for assessing development.
Life expectancy at birth
Other indicators include infant mortality rates and access to healthcare.
What does high income inequality in Latin America indicate?
It characterizes socio-economic structures and is embedded in social and cultural traditions, hindering overall development.
Addressing inequality may require policy interventions.
What future challenges for development in Latin America are suggested?
- Global economic uncertainty
- Need for sustainable practices
- Addressing social inequalities
What factors should be considered to gain a comprehensive understanding of development in Latin America?
Historical dependency, institutional frameworks, economic conditions, social conditions, theoretical perspectives on development
Consideration of historical context and contemporary challenges is essential for a holistic view of development.
How does historical dependency shape contemporary development challenges in Latin America?
It creates a legacy of socio-economic inequalities and structural issues that influence current economic and social conditions
Historical dependency refers to the long-term effects of colonialism and external influences on local economies.
What is the significance of a strong institutional framework for sustainable development in Latin America?
It is crucial for promoting stability, governance, and equitable growth
Strong institutions can help in creating policies that address inequality and foster inclusive development.
What are some key institutional reforms for promoting inclusive and equitable growth in Latin America?
- Strengthening legal frameworks
- Enhancing transparency and accountability
- Decentralizing power
- Improving public service delivery
Reforms should aim to empower marginalized communities and ensure fair resource distribution.
What are the differences between modernisation theory and dependency theory regarding underdevelopment in Latin America?
- Modernisation theory suggests linear progress towards development
- Dependency theory emphasizes the negative impact of external influences and historical context
Each theory offers distinct insights into the factors contributing to underdevelopment.
Which development theory is considered more compelling in explaining Latin America’s underdevelopment?
Subjective; depends on individual analysis of socio-economic contexts and historical influences
Personal perspectives may vary based on the weight given to historical context versus current economic strategies.
What are the most pressing priorities for promoting equitable and sustainable development in Latin America in the 21st century?
- Addressing inequality
- Strengthening institutions
- Fostering economic diversification
- Enhancing education and health services
These priorities are essential for creating a balanced development strategy that benefits all segments of society.
